Tetra Technologies, Inc. (NYSE:TTI) Stock Rated “Buy” by Sell-Side Analysts

Tetra Technologies, Inc. (NYSE:TTI) has earned an average recommendation of “Buy” from the five research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $11.17.

A number of equities analysts have issued reports on TTI shares. Northland Securities set a $10.00 price target on Tetra Technologies in a research note on Tuesday, September 1st. Clear Str upgraded Tetra Technologies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Stifel Nicolaus decreased their target price on Tetra Technologies from $13.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday, September 23rd. Finally, Weiss Ratings lowered Tetra Technologies from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, August 4th.

Tetra Technologies Stock Performance

Shares of TTI stock opened at $5.66 on Wednesday. Tetra Technologies has a 12-month low of $5.59 and a 12-month high of $12.54. The firm has a market capitalization of $837.34 million, a price-to-earnings ratio of 141.41 and a beta of 1.26. The business has a 50 day simple moving average of $6.87 and a 200 day simple moving average of $8.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.46 and a quick ratio of 1.76.

Tetra Technologies (NYSE:TTI) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas company reported $0.08 EPS for the quarter, meeting analysts’ consensus estimates of $0.08. The company had revenue of $185.66 million for the quarter, compared to analyst estimates of $176.16 million. Tetra Technologies had a return on equity of 9.11% and a net margin of 0.97%. During the same period last year, the company earned $0.08 earnings per share. On average, equities research analysts anticipate that Tetra Technologies will post 0.25 EPS for the current year.

Insiders Place Their Bets

In other Tetra Technologies news, Director Angela John bought 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was acquired at an average price of $6.50 per share, with a total value of $65,000.00. Following the completion of the transaction, the director directly owned 97,434 shares in the company, valued at approximately $633,321. This represents a 11.44% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.27% of the company’s stock.

Hedge Funds Weigh In On Tetra Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Tetra Technologies in the second quarter valued at about $138,491,000. Ranger Investment Management L.P. acquired a new position in Tetra Technologies in the 2nd quarter worth about $5,190,000. SIR Capital Management L.P. purchased a new stake in shares of Tetra Technologies during the 2nd quarter worth about $1,810,000. Edgestream Partners L.P. purchased a new stake in shares of Tetra Technologies during the 1st quarter worth about $2,874,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Tetra Technologies during the 2nd quarter worth about $4,733,000. Hedge funds and other institutional investors own 70.19% of the company’s stock.

About Tetra Technologies

Tetra Technologies, Inc (NYSE: TTI) is an energy services and solutions company that provides specialized products and services to the oil and gas industry, with additional activities related to energy transition. The company serves customers involved in drilling, well completion, production and offshore operations.

Tetra’s Completion Fluids & Products segment supplies clear brine fluids, completion-fluid additives and related products used to control pressure and protect reservoirs during well-completion and workover activities.